Mangkok project in Indonesia off to a good start
Perth company Indo Mines has celebrated the start of production at its Mangkok Coal Project, an open-cut mining operation, which lies in a major coal producing region in Indonesia.An initial production target of 50,000 tonnes per month of high quality thermal coal is scheduled for the Mangkok Project, commencing August 2010, and the company is also continuing with further exploration and in-fill drilling whilst in production to identify new coal seams on the project.
The coal will be delivered as part of a $4 million pre-payment towards the purchase of 300,000 tonnes.
This first production marks an important milestone for Indo Mines, which has now established a significant presence in the well established-coal region of Kalimantan.
The company has said it will continue to seek additional near term production coal projects in the region to take advantage of strengthening thermal coal prices.
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